Historic Preservation

(screenshot via Google Maps)

Saying he has no choice, the owner of a crumbling building in the Cupples Station warehouse complex has applied for a permit to demolish the building.

Developer Kevin McGowan, who owns the building at 1014 Spruce St. known as Cupples 7, filed his application on Nov. 9th.  Streets around the building have been blocked off since late September due to safety concerns.

(Marshall Griffin/St. Louis Public Radio)

The Missouri House has done an about-face and now wants a joint committee to negotiate a final version of a wide-ranging tax credit bill that has divided the House and Senate throughout the ongoing special session.

House Speaker Steven Tilley (R, Perryville) had suggested weeks ago that a conference committee wasn’t necessary and that any differences on tax credits could be worked out during floor debates.  Senate President Pro-tem Rob Mayer (R, Dexter), meanwhile, had pushed for going to conference because that’s the normal route for reaching compromise on bills.  Tilley says he’s decided to take Mayer at his word.

(via Flickr/jennlynndesign)

Updated 5:14 p.m.

The Missouri House has passed its version of a wide-ranging tax credit bill.

It does not place expiration dates, or sunsets, on historic preservation and low income housing tax credits, as demanded by the Senate.  Instead, House GOP leaders hope to mollify the Senate with a new proposal:  All tax credit programs would come up for review every four years and be subject to a renewal vote by the General Assembly.  The measure is sponsored by House Budget Chairman Ryan Silvey (R, Kansas City).

(UPI/Bill Greenblatt)

The economic development deal struck by lawmakers will cut one of Missouri’s most popular tax credits nearly in half.

The deal between House and Senate leaders would cut the amount of Historic Preservation tax credits issued each year from $140 million down to $80 million.

Ruth Keenoy with the non-profit Landmark Associates of St. Louis, Inc., says the smaller cap would be detrimental to Missouri’s economy.  She wants the incentives to be left as-is.

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